Johnson Investment Counsel Inc. trimmed its holdings in shares of PayPal Holdings, Inc. (NASDAQ:PYPL – Free Report) by 15.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 8,830 shares of the credit services provider’s stock after selling 1,657 shares during the period. Johnson Investment Counsel Inc.’s holdings in PayPal were worth $589,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Bank Julius Baer & Co. Ltd Zurich lifted its stake in PayPal by 90,307.2% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 254,544,959 shares of the credit services provider’s stock valued at $16,985,785,000 after purchasing an additional 254,263,405 shares during the last quarter. BlackRock Inc. lifted its stake in PayPal by 1.3% in the 1st quarter. BlackRock Inc. now owns 77,214,661 shares of the credit services provider’s stock valued at $5,863,681,000 after purchasing an additional 962,329 shares during the last quarter. State Street Corp lifted its stake in PayPal by 2.7% in the 1st quarter. State Street Corp now owns 45,423,344 shares of the credit services provider’s stock valued at $3,449,434,000 after purchasing an additional 1,202,956 shares during the last quarter. Geode Capital Management LLC lifted its stake in PayPal by 1.1% in the 1st quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock valued at $1,586,966,000 after purchasing an additional 235,651 shares during the last quarter. Finally, Morgan Stanley lifted its stake in PayPal by 12.0% in the 4th quarter. Morgan Stanley now owns 18,560,073 shares of the credit services provider’s stock valued at $1,321,849,000 after purchasing an additional 1,995,271 shares during the last quarter. 68.42% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
PYPL has been the topic of several recent research reports. TD Cowen initiated coverage on shares of PayPal in a report on Friday, October 6th. They set a “market perform” rating and a $66.00 target price on the stock. JPMorgan Chase & Co. lowered their target price on shares of PayPal from $100.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. Morgan Stanley lowered their target price on shares of PayPal from $126.00 to $118.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. Piper Sandler reduced their price target on shares of PayPal from $67.00 to $66.00 and set a “neutral” rating on the stock in a research report on Thursday, November 2nd. Finally, William Blair reiterated an “outperform” rating on shares of PayPal in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, PayPal currently has an average rating of “Moderate Buy” and an average target price of $78.77.
PayPal Price Performance
Shares of NASDAQ:PYPL opened at $56.99 on Tuesday. PayPal Holdings, Inc. has a 52 week low of $50.25 and a 52 week high of $88.63. The firm’s fifty day moving average is $56.85 and its 200-day moving average is $62.48. The firm has a market cap of $61.44 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 0.91 and a beta of 1.38. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.30 and a current ratio of 1.30.
PayPal (NASDAQ:PYPL – Get Free Report) last announced its earnings results on Wednesday, November 1st. The credit services provider reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. PayPal had a net margin of 12.93% and a return on equity of 20.78%. The business had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.39 billion. During the same quarter last year, the firm earned $0.87 earnings per share. PayPal’s quarterly revenue was up 8.1% on a year-over-year basis. Sell-side analysts predict that PayPal Holdings, Inc. will post 3.84 earnings per share for the current year.
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. The company provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, PayPal Zettle, Hyperwallet, PayPal Honey, and Paidy names. Its payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 150 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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